Coinexchange.io is Closing Down

https://www.coinexchange.io/news/post/85/

by enigami • 7 years ago

28 44 7 years ago

moonbug• 7 years ago

and nothing of value was lost..

j-pb• 7 years ago

I can't wait for the Tulip... err Blockchain hype to die down. Using the energy of a mid size european country for what is now essentially a pyramid scheme is just shitty.

(And I make that statement after having made a few thousand bucks by mining BTC at 5$ per coin.)

hc912• 7 years ago

Using the energy of a mid size european country for what is now essentially a pyramid scheme is just shitty.

It is all fun and games until you realise this is NOT a metaphor and that shitcoin does indeed consume as much energy as a country.

helpPeople• 7 years ago

Anyone who calls it a tulip isn't taken seriously.

I don't believe in the hype of altcoins, but I do see the problems Bitcoin solves.

nicky03• 7 years ago

Bitcoin seems to be just quietly sticking around for now.

undefined3840• 7 years ago

Living in a country where you have no choice but to earn in a local currency with runaway inflation is objectively shittier.

dang• 7 years ago

Maybe not, but please don't post unsubstantive comments to Hacker News.

ConcernedCoder• 7 years ago

Hey if anyone wants to use their computer spare cycles on something a little more worthwhile ( as far as humanity is concerned ) try: https://foldingathome.org/

hc912• 7 years ago

Also Rosetta@HOME: https://boinc.bakerlab.org/rosetta/

wesammikhail4• 7 years ago

This is something that has boggled my mind since 2010 when I first looked at crypto. Why the hell would anyone waste CPU cycles computing some arbitrary hash value that is then ejected as "waste" rather than having the computational workload itself run scientifically important problem and the result of that computation is rewarded with a token? why the hell is everyone using all of this computational power for... nothing of value really?

The main currency in crypto is NOT the tokens/coins you get. It is the CPU cycles. So why the hell are we not putting those to good use? it´s freaking beyond me. Imagine if F@H (or something like it) had the bitcoin network´s power, we could potentially help solve cancer.

Maybe someone can help shed some light on this topic if there is something I´ve missed!

bdcravens3• 7 years ago

When you encounter your typical Bitcoiner, they'll do logical gymnastics and typically go the playbook, which is to deflect and talk about how much energy banks or treasuries use.

However, the true answer is always greed.

koolba• 7 years ago

Can you give an example of a scientifically important problem that can be massively distributed in its calculation yet quick to verify?

The second part of that is the real hitch for mining. You must throw tons of CPU to "mine" the hash but it's a single evaluation to verify it for the proof.

Aperocky2• 7 years ago

Because that would just be another more regular token .. like the dollar. Everything will default to the easiest path - crypto worked mostly because people are actually using it for reasons that prevent them from using regular currency. There’s nothing nefarious about science work that need to jump the crypto hoop.

kajumix• 7 years ago

How do you imagine this could be done? Is there an inexhaustible repository of "scientifically important problems" that can be solved every 10 minutes by some computing entity, and whose difficulty is adjustable -- a function of available compute power in the network, and are verifiable by others without human judgement involved?

So why the hell are we not putting those to good use?

Some would argue that securing transactions that transfer value without trust is a good use

pmezard• 7 years ago

Given the natural tendency of cryptocurrency artists to try stealing other people cycles, haven't they tried already to rewrite their hashing problems into protein folding ones?

djsumdog• 7 years ago

It has been a fantastic journey

Ah yes ... yes the journey. It was such a good shutdown notice until that point. Just leave it off. No one cares about your journey.

michannne• 7 years ago

I have no regrets making as much money as I did via Bitcoin. It was one of those once in a lifetime events you truly only have one chance to participate in. I remember various betting dApps that practically doubled your ethereum, and thinking there is no way this is what Satoshi had in mind.

Coinexchange.io is Closing Down

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